Wall Street’s take on Motorola: Apple up, Google down
The market has had 3 days to chew over the Googorola news. It’s not sitting well.
After thousands of news reports, analysts notes, blogs and tweets, the chart at right may tell you all you need to know about Google’s (GOOG) plan to fight/emulate Apple (AAPL) by buying Motorola Mobility’s (MMI) brand, patents and device manufacturing business for $12.5 billion.
In the three days of trading since the news broke, Google has dropped more than $30 a share, shaving nearly $10 billion off its market cap.
Apple, meanwhile, has been tracking the market and by Wednesday’s close was up $3.45 (0.9%) for the week.